Quick facts: Spokane, WA

Quick Facts

105.3
Cost of Living
above US average
230,160
Population
63.84
Crime Rate per 1000
above US average
$63,316
Median Income
below US average
$340,000
Median House Price
above US average
$207874.3
Average Rent
above US average
12%
Poverty Rate
above US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $63,316.

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Income Needed to Buy

βœ— Stretch
$107k/year
Based on $340,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $107k vs median $63,316
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Income Needed to Rent

⚠ Stretch
$8909k/year
Based on $207874.3/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $8909k vs median $63,316
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Spokane, WA

Spokane, located in eastern Washington, is known for its rich cultural history, stunning natural landscapes, and vibrant community. As the second-largest city in Washington, it serves as a regional hub for education, healthcare, and business. Spokane's downtown area features a variety of shops, restaurants, and entertainment options, including the iconic Riverfront Park, which showcases the scenic Spokane River and historic landmarks like the Great Northern Clocktower. The city hosts several annual events, including the Spokane International Film Festival and the Lilac Festival, celebrating its diverse culture and arts scene. Outdoor enthusiasts enjoy access to a plethora of recreational opportunities, including hiking, skiing, and biking in the surrounding mountains and parks such as Riverside State Park. Spokane is home to several higher education institutions, including Gonzaga University, adding to its youthful and dynamic atmosphere. With a growing culinary scene and an emphasis on local agriculture, Spokane continues to attract residents and visitors alike, making it a unique and thriving city in the Pacific Northwest.

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